The Cabinet has approved the establishment of a special free zone named Fujairah Alamein Oil and Gas Company in New Alamein City, Matrouh Governorate, according to Decree No. 65 of 2026. The new free zone, which covers about 737,915 square meters, will be dedicated to the storage and trading of petroleum products and crude oil.

According to the Decree, the company must export at least 100% of its annual production, and its products must contain at least 50% local content.

The Decree also requires the company to provide an approved document proving its legal possession of the project site and obtain the necessary approval from the Egyptian Environmental Affairs Agency.

In addition, the company must comply with Egypt’s industrial safety, civil defense, and fire protection requirements under the applicable Egyptian codes and regulations.  It will also be responsible for securing the free zone and its boundaries by installing security towers and surveillance cameras at its own expense.

This decision aligns with an agreement signed by Egypt and the Emirate of Fujairah to establish an Egyptian shareholding company to develop a logistics zone in the Mediterranean basin at El-Alamein. The project aims to store and trade petroleum products in the Mediterranean, and involves upgrading and expanding El-Hamra Port in cooperation with the Fujairah Oil and Gas Corporation.